Packages Help with Value

When isolating and reviewing individual items, the idea is to see if we can build the value of a product, in the customers’ opinion, to a point where it exceeds the cost. This is largely done by focusing on the customers’ situation, and how a particular product meets a specific need that the customer has.

In our example GAP has an individual value of $10 per month. If the customer believes that the value of GAP coverage exceeds $10 per month, they are likely to want the benefit.

There are some further advantages of Packages, with package savings. If the customer selects the Standard package, they remove the GAP benefit. We would then see if we can build $10 worth of value into the GAP benefit for the customer. We would then finish by saying:

“Of course, the difference between the Preferred and Standard package is only $6 per month, so with package savings, you're getting the GAP coverage for only $6 per month instead of $10. With that in mind, did you want to go ahead with the Preferred package?”